Bridging loan approvals record

The number of bridging loan approvals has increased by almost 25% in the quarter ending December 2015. January has also been a very busy month as well here at Fastest Bridging with our regular clients expressing a need to complete deals as quickly as possible.

Applications for bridging started to show significant increases at the beginning of 2015 and continued to gather pace as the year progressed. Other lending sources still continue to require far too much time to complete on a straight forward case. We are happy to report our recent survey showed a “clean case” with all parties pulling together completes on average within 8 days.

Choosing a lender

There are an increasing number of short term lenders entering this lucrative market and selecting one can be a minefield as certain loans require a regulated lender. For landlords and property investors however, the type of bridging loan required is usually of a non-regulated variety so it’s not essential to use a FCA registered lender.

The majority of reputable bridging lenders are members of the Association of Short term Lenders which is a self-regulating body. They operate a very strict code of conduct to ensure the borrower is protected and fairly treated.

Bridging is a very specialist area of lending and it is very advisable to seek the services of a specialist broker who will advise the correct financing required.

Bridging loan uses

Bridging has a vast array of uses and this seems to be increasing daily. The most popular uses are, refunding of a project, buying at auction and buy-to-let purchases.

The trend for this financial year is cheaper financing and completions quicker than ever before which is great news for the borrower. These are very progressive times for bridging finance with new and existing borrowers reaping the valuable rewards.

Years gone by bridging was seen as a very expensive alternative to traditional lending but now this is just not the case as costs have been reducing annually.

Like too know more?

Our advisers are fully trained and skilled in all areas of bridging finance so please call to discuss any requirements you may have. We look forward to hearing from you.